IDACORP, Inc. (NYSE:IDA) Given Consensus Rating of “Moderate Buy” by Analysts

IDACORP, Inc. (NYSE:IDA) has earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $137.8750.

A number of analysts have commented on IDA shares. Wells Fargo & Company raised IDACORP to a “hold” rating in a report on Tuesday, October 28th. BTIG Research raised IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. UBS Group decreased their target price on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Morgan Stanley set a $139.00 target price on shares of IDACORP and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th.

IDACORP Stock Down 0.2%

Shares of IDACORP stock opened at $127.43 on Wednesday. The company has a 50-day simple moving average of $128.82 and a two-hundred day simple moving average of $125.92. The stock has a market capitalization of $6.89 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. IDACORP has a 52-week low of $104.74 and a 52-week high of $138.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The firm had revenue of $524.42 million for the quarter, compared to analysts’ expectations of $663.09 million. During the same quarter in the prior year, the company posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, analysts anticipate that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were issued a $0.88 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, November 5th. IDACORP’s dividend payout ratio is 60.48%.

Hedge Funds Weigh In On IDACORP

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirabella Financial Services LLP increased its position in IDACORP by 173.7% during the third quarter. Mirabella Financial Services LLP now owns 19,187 shares of the energy company’s stock valued at $2,531,000 after acquiring an additional 12,178 shares during the last quarter. Allworth Financial LP grew its stake in shares of IDACORP by 25.3% during the 3rd quarter. Allworth Financial LP now owns 2,256 shares of the energy company’s stock valued at $298,000 after purchasing an additional 455 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of IDACORP during the 3rd quarter valued at about $331,000. CIBC Bancorp USA Inc. purchased a new stake in shares of IDACORP during the 3rd quarter valued at about $365,000. Finally, Coldstream Capital Management Inc. lifted its stake in shares of IDACORP by 12.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,777 shares of the energy company’s stock worth $499,000 after purchasing an additional 412 shares during the period. 89.10% of the stock is owned by institutional investors.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.